Regulatory Alerts2022-11-29
Added · Updated
Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017
These regulations establish the procedural framework for substantial acquisitions of voting shares and takeovers of listed companies in Pakistan, mandating specific disclosure timelines and public announcement requirements for acquirers. The rules define the minimum offer price based on weighted average market prices or net asset values, require a public offer for at least fifty percent of remaining voting shares, and stipulate security deposits via escrow accounts or bank guarantees. The document also outlines the acceptance period, competitive bid procedures, and penalties for non-compliance or false information.
Topics
securities
market-abuse
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